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The Vijaya Bank extends it’s service in the domain of business loans. The bank has introduced the business loan to aid the flourishing business units in expanding their business. Under the cover of business loan, the applicant can avail the loan up to the maximum limit of Rs. 5 crores. The bank has categorised the loan for the traders and MSMEs so that the applicant can avail the maximum benefit as per his needs.

Vijaya Bank Business Loan Details

Particulars

Details

Interest Rates

10.20% p.a – 13.70% p.a

Loan Amount

Up to Rs. 5,00,00,000

Minimum Tenure

1 year

Maximum Tenure

10 years

How To Apply

The interested candidate can apply for Vijaya Bank Business Loan by visiting the nearest branch office. The loan application is accepted at all the bank branches. The bank executives will provide the necessary insight and assist in accomplishing the process.

Vijaya Bank Business Loan EMI Calculator

EMI is the amount the borrower has to pay to the lender to pay off his debt. This amount includes the portion of principal value and the interest amount. This amount can be computed easily via EMI calculator. The calculator helps the borrower to know the exact EMI amount he has to pay each month. It works on a simple principle. On entering the loan amount, tenure and the rate of interest, the calculator reveals the result. The result displayed is accurate and can help you plan your monthly budget.

For example, a borrower takes a loan of Rs. 5,00,00,000 at the rate of interest ranging from 10.20% p.a – 13.70% p.a. He decides to pay off his debt during the tenor of 10 years. He has to pay Rs. 6,66,304 – Rs. 7,67,339 per month for the period of 120 months to repay the loan.

Vijaya Bank Business Loan Eligibility Criteria:

The candidates belonging to following categories are eligible to apply for Vijaya Bank Business Loan –

Applicants having either sales tax registration or trade/ business license/ permit

The traders engaged in buying and selling of goods either as retailers or wholesalers

The Micro, Small and Medium Entreprises [MSMEs]

Vijaya Bank Business Loan Application Form

To avail the business loan from Vijaya Bank you are required to submit the duly filled application form. The forms are available at all the branches. Visit the closest branch and submit the form along with the requisite documents.

Age proof (PAN Card, Passport, any other certificate from a statutory authority)

Proof of business existence

Bank Statements (Bank statement / Bank Passbook for last 6 months)

Profit and loss statement for last 3 years

Balance sheet for last 3 years

Income Tax Returns for last 3 years (for self and business) duly certified by a CA

Vijaya Bank Customer Care

For more details regarding the product contact the customer care helpline. You can call on the toll- free number 1800 425 5885 and get the answer to all your queries and doubts. Or you can visit the nearest branch. There the bank representative will impart all required information.

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